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Question

b) What does falling total utility imply for marginal utility? Give an arithmetical example to illustrate your answer.

c) Complete the following table and answer the questions below:

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i) At which rate is total utility increasing: a constant rate, a decreasing rate, or an increasing rate? How do you know? 

ii) "A rational consumer will purchase only 1 unit of the product represented by these data, since that amount maximizes marginal utility." Do you agree? Explain why or why not.

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Step-by-step answer

entesque dapibus efficitur laoreet. Nam risus ante, dapibus, dictums


s a molestie consequat, ultrices ac magna. Fusce dui lectus,


sus ante, dapibus a molestie consequaonec aliquipisci


fficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet


m risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congu

acinia pulvi

e vel laoreet ac, dictum vitae odio. DoneDoat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, di

cing elit. Nam lacinia pulvinar torng elit. Nam lacinia pulvinar tortor, consectetur adipiscing elit. Nam lacinia pulvinar


dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amem ipsumtesque dapibus efficitur laoreet. Nam risicitur laou


Falling total utility.png


or nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consecte


cing elit. Nam lacinia pulvinar tortor nec fa

Completed utility table.png


ec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus


sum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliq


sus ante, dapibus a molestie consequam risus ante, da molestie vel laoreet ac, dictum vitce dui lectus, congue vel laoreet ac


risusm ipsumfficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel

Completed utility table.png
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